Independent Affiliate Platform • Not an official KOHO website
Use referral code KOHOBONUS40 to sign up for KOHO and get a $40 cash bonus after your first purchase over $20. No monthly fees, no minimum balance.
Sign up with code KOHOBONUS40 and make your first purchase with your KOHO card.
The content on this page is provided for informational purposes only and may contain affiliate links. Additional information is available on the official website.
Getting your $40 bonus takes less than 10 minutes.
Use the Get Started button on this page, or enter code KOHOBONUS40 manually during sign-up. The $40 referral bonus is applied to your account automatically.
Create your KOHO account in minutes with your email and basic personal information. No credit check, no branch visit, and no minimum deposit required.
Add your virtual KOHO Visa to Apple Pay or Google Pay and make any purchase. Your $40 bonus is credited to your account automatically.
Last reviewed: July 2026 · Independent editorial review
Overall Rating — Recommended by GetReferral
KOHO is the best no-fee spending account I have tested for everyday Canadian life. The cashback on groceries and transport adds up quickly, the built-in credit building tool is genuinely useful, and the $40 welcome bonus is the highest in its category. You can get additional information on our full KOHO review.
Our verdict: KOHO is a top-rated Canadian financial platform. We recommend signing up and using our referral code KOHOBONUS40 to claim your $40 bonus.
First-hand account from our editor
I started using KOHO as a test — I wanted to see whether the cashback on a no-fee card was meaningful in real life or just marketing. After three months of using it for groceries, transit, and subscriptions, I was averaging around $15–20 per month in returns. That's consistent, and the card costs nothing to hold.
The Credit Building add-on is the feature I recommend most to people who need it. A family member used it for six months and saw a noticeable improvement in their Equifax score without taking on any real debt. For new Canadians or anyone rebuilding their credit profile, it's one of the most accessible tools available.
The honest limitation is that KOHO is a spending account, not a savings or investing platform. Once you have meaningful savings beyond your monthly float, you'll still need a TFSA and a brokerage. But as a primary everyday card with cashback, interest on your balance, and no monthly fee, nothing I've tested at zero cost comes close.
1M+
Canadians use KOHO
Up to 3.5%
Interest on your balance
Founded 2014
Toronto-based fintech
CDIC Protected
Funds held at Peoples Bank
A full suite of financial products built for Canadians — all in one place.
KOHO Prepaid Visa
A Visa prepaid card linked to your KOHO account. Spend anywhere Visa is accepted and earn cashback on every purchase. No credit check required.
KOHO Savings
Earn up to 3.5% interest on your entire balance with no minimum deposit and no lock-in periods. Interest compounds daily and is paid monthly.
KOHO Credit Building
Build your credit score without a hard credit check by subscribing to KOHO's credit building feature, which reports positive payment history to Equifax.
KOHO Premium
An optional paid plan that unlocks higher cashback rates, free international transfers, financial coaching, and zero foreign transaction fees.
RoundUps
Automatically round up every purchase to the nearest dollar and transfer the difference into your savings. A simple, hands-off way to save more.
Instant Pay
Access up to $100 of your upcoming paycheck early at no cost, helping you cover expenses before payday without a loan.
Here's what makes KOHO stand out from the competition.
Key terms and requirements you should know when using the referral code or link
Common questions about KOHO and the referral bonus.
Enter referral code KOHOBONUS40 during sign-up, or click the Get Started button on this page to have it applied automatically. Once your account is open and you make your first purchase with your KOHO card over $20, the $40 cash bonus will be credited to your account.
KOHO is a financial technology company, not a bank. Your KOHO balance is held in trust at Peoples Bank of Canada, a CDIC member institution. This means your funds are eligible for up to $100,000 in deposit protection per category.
The base KOHO account has no monthly fees. KOHO offers optional paid plans (Essential, Extra, and Everything) that unlock higher cashback rates, credit building, and other perks for a monthly fee.
No — opening a KOHO account does not require a credit check. The KOHO Prepaid Visa is a prepaid card, not a credit card, so it is available to anyone regardless of credit history.
KOHO's credit building feature charges a small monthly fee and reports positive payment history to Equifax on your behalf. Over time, this can help raise your credit score without a hard inquiry or the risk of carrying credit card debt.
Yes — KOHO pays up to 3.5% interest on your entire balance depending on your plan. Interest is calculated daily and paid out monthly, with no minimum balance required.
Your virtual KOHO Visa card is available immediately after account setup in the app. You can add it to Apple Pay or Google Pay and start spending and earning cashback right away, before your physical card arrives.
Instant Pay lets you access up to $100 of your next paycheck early at no cost. If you need a larger advance, KOHO Cover provides up to $250 for a small monthly subscription fee, with no interest charged.
The current KOHO referral code is KOHOBONUS40. Enter it during sign-up or use the Get Started button to have it applied automatically. Make your first purchase over $20 with your KOHO card to receive the $40 cash bonus.
Yes — you must make your first qualifying purchase after opening your account for the $40 bonus to be triggered. Sign up and use your virtual KOHO card promptly to make sure the reward is credited.
Tips, reviews, guides, and news about KOHO.
KOHO offers two credit building programs that help Canadians improve their credit score without a hard credit check. This review covers how both programs work, the cost, realistic results, and who they're best suited for in 2026.
Read more
KOHO is a no-fee prepaid Visa card and savings account for Canadians. Our 2026 review covers features, fees, interest rates, cashback, and whether it's worth signing up.
Read more
Use KOHO referral code KOHOBONUS40 to get a $40 cash bonus when you sign up and make your first purchase over $20. No monthly fees, no credit check.
Read moreSign up to KOHO today and use code KOHOBONUS40 to get your bonus.
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